Chapter 4, Problem 4.6BYP

As discussed in the chapter, the principles underlying activity-based costing have evolved into the broader approach known as activity-based management. One of the common practices of activity-based management is to identify all business activities, classify each activity as either a value-added or a non-value-added activity, and then try to reduce or eliminate the time spent on non-value-added activities. Consider the implications of applying this same approach to your everyday life, at work and at school. How do you spend your time each day? How much of your day is spent on activities that help you accomplish your objectives, and how much of your day is spent on activities that do not add value?

  Many “self-help” books and websites offer suggestions on how to improve your time management. Should you minimize the “non-value-added” hours in your life by adopting the methods suggested by these sources? The basic arguments for and against are as follows.

  YES: There are a limited number of hours in a day. You should try to maximize your chances of achieving your goals by eliminating the time that you waste.

  NO: Life is about more than working yourself to death. Being an efficiency expert doesn't guarantee that you will be happy. Schedules and daily planners are too constraining.

 Instructions

Write a response indicating your position regarding this situation. Provide support for your view.